| By :
Marilyn Katz
Individual and family health plans cover a lot of us in the US. People who work for themselves, own their own business, or work for an employer without a group plan, all need to buy their own policies. The biggest problem is for higher risk people who have a hard time finding affordable premiums, if they can get accepted at all Indivudal policies, unlike group plans, are underwritten for each applicant. Insurers can decline applicants for coverage if they determine the risk is too high. Young adults, and even children, may also be declined. But as we age, we tend to be more likely to develop the sort of health problems that may make us higher risks to cover. In addition, older people are more expensive to cover any way. The combination of higher risks and increased premiums may make it very difficult to find affordable coverage from a private insurer for middle aged people. Many Americans who are between fifty and sixty-four are counting the days until they qualify for Medicare. But it is not impossible to find a major medical policy for people aged 50 to 65. It will help to minimize risk. In other words, being overweight, smoking, or having any sort of unhealthy lifestyle will work against an older person. Multiple health risks will make it really hard to get insurance. For instance, an overweight person who also has high blood pressure will have a tough time finding affordable rates. If that same individual had a history of blood pressure, but controlled it with diet and medication, isurers would regard that in a much better light. Consider a higher deductible health plan. It will cost less, and often mean lighter underwriting, to take out a higher deductible health insurance plan. Some of these work with an HSA (Health Savings Account). Money that is put into to the Health Savings Account is also tax deductible up to the tax rule limits. This may work out very well because any unused money can roll over. At retirement age, the money can be withdrawn with no penalty too. The money in the account is used to pay for expenses that would not be covered by the higher deductible medical plan because the deductible has not been reached, or because they are just not covered services. HSA plans only work for people who are disciplined enough to make contributions though. Disciplined savers are likely to be satisfied with this type of plan. If you have been declined for an individual or family medical plan, you still have options. Each state in the USA has a high risk health insurance plan for residents. Many counties have county hospital systems with scaled health plans for people who cannot get, or cannot afford, any other coverage. You should be able to find out more by searching online or asking an experienced agent. Nowadays, most good insurance agents, will know how to help clients who have been turned down by a private insurance company. It is fast and simple to start searching with an internet quote form. You simply have to enter your basic information in one time. After you submit it, you may get quotes online. Or, if you choose, a local agent will look it over to give you suggestions for the best health plans for you.
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